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how did you get the average inventory 105,000$ and the average account receivable 83,000$ 2. The inventory turnover ratio for the year was 5. The
how did you get the average inventory 105,000$ and the average account receivable 83,000$
2. The inventory turnover ratio for the year was 5. The inventory turnover ratio could be found using the formula given below: Inventory turnover ratio =AverageinventoryCostofgoodssold Now plug the values and calculate: Inventory turnover ratio =$105,000$525,000 Inventory turnover ratio =5 Explanation: Therefore, the Inventory turnover ratio is $5. 3. The accounts receivable turnover ratio for the year is 10 . The accounts receivable turnover ratio for the year can be calculated with the help of the following formula. Accounts receivable turnover ratio =AverageaccountsreceivableSales Now plug the values and calculate: Accounts receivable turnover ratio =$830.00n Accounts receivable turnover ratio =10 Explanation: Therefore, the accounts receivable turnover ratio is $10 1.For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. 2.The inventory turnover ratio for the year was 4.8 5.0 7.9 3.The accounts receivable turnover ratio for the year was 6.3 7.5 10.0 4.On average how many days of sales were in Accounts Receivable during the year? 27 37 49 5.On average how many days of sales were in Inventory during the year? 14 46Step by Step Solution
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